Gulf states plan to launch their monetary council, a precursor for a joint central bank, in 2010 but the planned single currency may be delayed, the Saudi central bank chief said on Sunday.
"The (Gulf) monetary council will be established in 2010. It will be entrusted to complete other procedures," Mohammad al-Jasser, head of the Saudi Arabian Monetary Agency (SAMA), told reporters in Kuwait.
The "procedures," such as the launch of the single currency, "will be completed in the correct way to achieve the required results," Jasser said on the sidelines of the first Kuwait Financial Forum.
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